Portland Investment Counsel Inc.

Portland Investment Counsel Inc.
North American Dividend Plus Fund

February 28, 2011 10:22 ET

North American Dividend Plus Fund Files Preliminary Prospectus

BURLINGTON, ONTARIO--(Marketwire - Feb. 28, 2011) -


Portland Investment Counsel Inc., the Manager of North American Dividend Plus Fund (the "Fund") is pleased to announce that the Fund has filed and has received a receipt from the securities regulators of all the Canadian provinces and territories for the preliminary prospectus dated February 25, 2011 for the initial public offering of units ("Units") of the Fund at a price of $12.00 per Unit. 

The Fund is a closed-end investment trust whose investment objectives are:

  1. to provide holders of Units with monthly cash distributions; and
  1. to preserve and enhance the net asset value of the Fund.

Portland Investment Counsel Inc. will be responsible for the Fund's overall investment strategy, including managing the composition of the portfolio of the Fund. The Fund has been created to provide investors an opportunity to invest in an actively managed diversified portfolio comprised primarily of preferred shares and dividend-paying common shares of issuers with a head office in North America.

A syndicate of agents is being co-led by National Bank Financial Inc., CIBC and RBC Dominion Securities Inc., and includes BMO Capital Markets, Scotia Capital Inc., TD Securities Inc., Canaccord Genuity Corp., HSBC Securities (Canada) Inc., Manulife Securities Incorporated, Desjardins Securities Inc., Macquarie Private Wealth Inc., Raymond James Ltd., Mackie Research Capital Corporation, and Wellington West Capital Markets Inc.

A preliminary prospectus dated February 25, 2011 (the "Prospectus") containing important information relating to these securities has been filed with securities commissions or similar authorities in certain jurisdictions of Canada. The Prospectus is still subject to completion or amendment. Copies of the Prospectus may be obtained from any of the Agents. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

Contact Information

  • Portland Investment Counsel Inc.
    Chris Wain-Lowe